04-21-03 Regular
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING MINUTES
Richfield, Minnesota
Regular Meeting
April 21, 2003
The meeting was called to order by Chair Harms at 7:00 p.m.
HRA Members
Present:
Thomas Harms; Joan Heimberger; Michael Sandahl; and Dan Linnihan.
HRA Members
Not Present:
Kristal Stokes.
Staff Present:
Samantha Orduno, Executive Director; Bruce Palmborg, Community
Development Director; Bruce Nordquist, Housing and Redevelopment
Manager; Chris Regis, Finance Manager; Cheryl Krumholz, Recording
Secretary; and John Dean, City Attorney.
Item #1
M/Sandahl, S/Helmberger to approve the minutes of (1) Special Concurrent HRA and City
Council Meetinq on February 14. 2003: (2) Reqular HRA Meetinq on February 18. 2003: (3)
Special HRA Meetinq on February 26, 2003: and (4) Special HRA Meetinq on April 8, 2003.
Motion carried 4-0.
Item #2
Chair Harms requested the Consent Calendar be amended to include Item 4E regarding
consideration of an additional subordination of the Housing and Redevelopment
HRA Meeting Minutes
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April 21,2003
Authority/Gramercy Corporation's Second Amended and Restated Contract for Private
Redevelopment to American Bank of St. Paul for the City Bella project financing.
The amended agenda wa$ approved unanimously.
Item #3
Housing and Redevelopment Manager Nordquist reported on the background and
presented the award to the HRA.
The HRA thanked staff for their efforts.
Item #4
A. Approved resolution authorizing execution of Tax Increment Pledge Agreement with City of
Richfield relating to issuance of $6 million General Obligation Tax Increment Bonds issued as
two separate series, 2003A and 2003B S.R. No. 21
HRA RESOLUTION NO. 888
RESOLUTION AUTHORIZING EXECUTION OF
TAX INCREMENT PLEDGE AGREEMENT WITH THE
CITY OF RICHFIELD RELATING TO $6,000,000 TAXABLE
GENERAL OBLIGATION TAX INCREMENT BONDS
This HRA Resolution appears as HRA Resolution No. 888 in HRA Resolution Book NO.7.
B. Approved resolution eliminating 6945 Clinton Avenue from Richfield Rediscovered 1999 Tax
Increment Financing District within Richfield Redevelopment Project Area S.R. No. 23
HRA RESOLUTION NO. 889
RESOLUTION APPROVING THE ELIMINATION OF 6945 CLINTON AVENUE
FROM THE RICHFIELD REDISCOVERED 1999 TAX INCREMENT FINANCING DISTRICT WITHIN THE
RICHFIELD REDEVELOPMENT PROJECT AREA
This HRA Resolution appears as HRA Resolution No. 889 in HRA Resolution Book NO.7.
C. Consideration of approval of resolutions authorizing: (1) modification to Redevelopment Plan
for Richfield Redevelopment Project Area; (2) modification No. 11 to Tax Increment Financing
Plan for Interstate-Lyndale-Nicollet Tax Increment Financing District; and (3) modification No.
1 to Tax Increment Financing Plan for Lyndale Gateway West Tax Increment Financing
District; all relating to Cornerstone Redevelopment Project S.R. No. 24
HRA Meeting Minutes
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April 21, 2003
HRA RESOLUTION NO. 890
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RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN FOR THE
RICHFIELD REDEVELOPMENT PROJECT AREA
HRA RESOLUTION NO. 891
RESOLUTION ADOPTING MODIFICATION NO. 11 TO THE TAX INCREMENT FINANCING
PLAN FOR THE INTERSTATE-L YNDALE-NICOLLET (ILN) TAX INCREMENT
FINANCING DISTRICT
HRA RESOLUTION NO. 892
RESOLUTION ADOPTING MODIFICATION NO.1 TO THE TAX INCREMENT
FINANCING PLAN FOR THE LYNDALE GATEWAY WEST TAX INCREMENT
FINANCING DISTRICT
These HRA Resolutions appear as HRA Resolution No.'s 890,891 and 892 in HRA
Resolution Book NO.7.
D. Approved amendment to Purchase and Private Redevelopment Agreement with Penn Place
Townhouses LLC for redevelopment of residential sites at 6833 and 6855 Penn Avenue S.R.
No. 25
E. Approved an additional subordination of the Housing and Redevelopment Authority/Gramercy
Corporation's Second Amended and Restated Contract for Private Redevelopment to
American Bank of St. Paul for City Bella project financing S.R. No. 28
M/Linnihan, S/Sandahl to approve the amended Consent Calendar.
Motion carried 4-0.
Item #5
Community Development Director Palmborg presented Staff Report No. 26 regarding a
resolution approving a Business Subsidy Agreement between the HRA and Lyndale Gateway, LLC
for the Cornerstone Group project.
Mr. Palmborg explained two highlights regarding the business subsidy agreement:
#2 - Forgivable loan does not mean the HRA can forgive the loan, but it is a label for the
several sources of funds available to the developer. It is also a statutory requirement.
#5 - Not related to wage or jobs goals.
M/Helmberger, S/Sandahl to close the public hearinQ.
Motion carried 4-0.
HRA Meeting Minutes
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April 21, 2003
M/Helmberger, S/Sandahl that the followinq HRA resolution be adopted, that it be spread in
the HRA resolution book and that it be made part of these minutes:
HRA RESOLUTION NO. 893
RESOLUTION APPROVING A BUSINESS SUBSIDY AGREEMENT BETWEEN THE HOUSING
AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD AND L YNDALE
GATEWAY, LLC
Motion carried 4-0. This HRA Resolution appears as HRA Resolution No. 893 in HRA
Resolution Book NO.7.
Item #6
Executive Director Orduno presented Staff Report No. 27 regarding consideration of an
appointment of a HRA liaison to serve on the new "Blending Public Spaces and Private
Development" Work Group.
M/Harms, S/Helmberger to appoint Kristal Stokes as the Housinq and Redevelopment
Authoritv liaison to serve .on the new "Blendinq Public Spaces and Private Development" Work
Group.
Commissioner Sandahl suggested a friendly amendment to the motion to include since
HRA Commissioner Stokes was not present to accept or decline this appointment, if she declines,
the HRA should reconsider another appointment.
Chair Harms and Commissioner Heimberger accepted the amendment.
M/Harms, S/Helmberger to appoint Kristal Stokes as the Housinq and Redevelopment
Authoritv liaison to serve on the new "Blendinq public Spaces and Private Development" Work
Group; however since HRA Commissioner Stokes was not present to accept or decline this
appointment. if she declines, the HRA should reconsider another appointment.
Motion carried 4-0.
Item #7
No report.
Item #6
M/Sandahl, S/Linnihan that the followinq claims and pavroll be approved:
HRA Meeting Minutes
FIRSTAR BANK March 17. 2003
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Section 8 Checks: 1 04364 - 1 04481
HRA Checks: 26518 - 26550
FIRSTAR BANK April 21. 2003
Section 8 Checks: 104482 - 104601
HRA Checks: 26551 - 26599
Motion carried 4-0.
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April 21, 2003
$165,393.26
$114,785.45
$165,470.34
$529,079.53
The meeting was adjourned by unanimous conse
Date Approved: May 19, 2003
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Cheryl umh Iz .
Recording Secretary